Bosman Business World

News and Research => Investment => Topic started by: bosman on 2025-02-12 08:01

Title: Musk claims that without cuts, the US will fall "bankrupt."
Post by: bosman on 2025-02-12 08:01
Elon Musk, the tech billionaire tapped by US President Donald Trump to lead an effort to cut costs in the federal government, said the United States  has "failed" without budget  cuts.
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Elon Musk took  particular aim at the  country's budget deficit, which  topped $1.8 trillion (€1.74 trillion)  in the last fiscal  year.
"It's not  an option" for Washington to  cut federal  spending, he told reporters.  "It's essential."
The billionaire also said there are good people in the federal bureaucracy, but they need to be held accountable. He called the bureaucracy  the "unelected" fourth branch of government. Musk is also unelected and  works for a part of the federal government.
The billionaire appeared with Trump in the Oval Office as the president prepared to sign an executive order regarding the  billionaire's job at the head of the so-called Department of Government Efficiency  (DOGE).
Musk's comments come as the Trump administration is  locked in a  dispute with  the US courts, with federal judges questioning the legality of the White  House's cost-cutting  measures.